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today in what could be the last chance to come talk before the u.s. falls off the fiscal cliff next week. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll still be talking about the same thing we're talking about now. >> although i feel we'll be talking more debt ceiling, as well. >> and speaking of which, president obama is trying a last ditch effort to restart budget talks days before the u.s. goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell s
next month. >> luca, stay with us. we want to bring you major news out of neighboring korea. south korea has chosen its first ever female president. cheri kay has all the news. how significant is the election of miss park? >> well, i mean, she's really made history, set to become south korea's first woman president. it was a very tight race, a very polarized election with park winning 51.5% of the votes. but in the end, south korea made a choice that means more hope of economic recovery. scenes of joy as the v in south korea's presidential poll. >> this election is your victory. this is a victory brought by the people's hope for overcoming crisis and economic recovery 37. >> the daughter of a former military leader will take office next year as the country's first female president, challenging syria types in a country traditionally ruled by men in suits. she will be tasked with getting the slowing economy back on track at a time when growth rates have risen to a meager 2% now. but she will need to do it in a way that appeases young voters who are calling for more balanced income di
would continue to grow, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. and if, you know, people start seeing that on january 1st this problem still hasn't been solved, that we haven't seen the deficit reduction that we could have had had the republicans been willing to take the deal that i gave them, if they say that people's taxes have gone up, which means consumer spending is going to be depressed, then, obviously, that's going to have an adverse reaction in the markets. >> what about automatic spending cuts? those take effect january 1st, as well. do they have to be part of this deal? you've got half of those cuts in defense law? >> well, congress agreed they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. so what we now have is a situation where these automatic spending cuts go into place. now, if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what
statement to parliament today. will be out in westminster soon. steve is out to give us more detailed analysis of what to expect. let's just go back to the eurozone. as you say, thin advances here. are we capping -- it's up against the yen as well. there's obviously been a big yen story. >> yeah, i think the euro/yen has had perhaps more to do with eu euro/dollar than anything else. the euro crosses in general have been story rather than euro/dollar and euro/yen at the forefront. i think the euro/yen forecast is overplayed in what japan will ultimately deliver on. but mum is pretty good. i think you still play for a little yen weakness. i think we'll see a lot of people trying to buy yen back because i don't think we'll get delivery in all these preelection promises. >> do we all think we know what the chancellor is going to say? >> judging by the many pages being given to it in the newspapers, you feel like what else can he say? it's not going to be a day where you'll buy sterling aggressively because most of the news is going to be bad. we're going to have lower growth. potentially
Search Results 0 to 3 of about 4